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cities. siemens. answers. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. (music throughout) why turbo? trust us. it's just better to be in front. the sonata turbo. from hyundai. >>> forget washington's fiscal woes. our next guest says that there's a new risk to the country's economic health, and it all has to do with the fed's balance sheet and the low rate policy it's had for a number of years now >> indeed. he's columbia university's rich mishkin. >> welcome back. >> lots of focus today on the fed minutes that came out earlier on today. what was your read on the fed? i mean, the market is taking them as hawkish. is that the correct way to read it? >> i think that there's some concerns that have been raised in both the minutes and actually we've seen in recent speeches which are a little bit more hawkish. there are
grid, and that in other countries, cyber attacks have plunged entire cities into darkness. >> president obama didn't say which country had been plunged into darkness by computer hackers, but we found out. it was brazil. we also found out that hackers have been infiltrating everything from our defense networks to the financial systems. bank robbers are now stealing more money with computers than they are with guns. >> this map is showing a visual representation of where all of the known infections of conficker are across the world. >> computer analysts say it's like a sleeper cell, and it may be poised to suck sensitive data out of millions and millions of computers. >> it takes time to read the manuals. i'm gonna save you that time. 'cause i stay home on saturday nights and read them for you. >> you and the rest of the geeks? >> there's millions of us out there. >> everybody, let's hear it! geek squad! [cheering] >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we take a look at technology. we examine how breaches in digital security threaten everything from weapons s
. "fast money" begins right now. have a good night. ♪ >>> nasdaq market site, new york city's times square, i'm melissa lee. this valentine's day evening, big air, mega mergers the hot ticket for airline investors but how can the smaller guys compete? dave barger gives an explanation as to why he thinks smaller is better. >>> pain at the pump. why steve grasso is betting the refinery run is not yet over. >>> and active management. how can you make money by riding the coat tails of carl icon, and dan lowe. first to the markets. another day of going nowhere for stocks but traders making money trading. so what was your top trade today? >> when i was younger, i was excellent at that game, one of these things is not like the other. remember the "sesame street" thing? >> really, your forte? >> what i noticed about the market, both bonds went up and stocks went up. i think it's a good thing. the worst thing in the world to me is yields rising for stocks. so i think that lends itself to a buy. tlt, name i talked about before, can go along with the spy i talked about a week ago. >> hmmm. >> so many
report" with tech today disappointing. financials are higher with names like blackrock, citi group, jpmorgan and american express with multi-year highs and goldman sachs 52 week high, rallies including community bank and those trading with multi-year highs. back to you. >> josh, thanks. as good a time as any to mention i will be speaking to goldman ceo blankfein at 2:00. pete, trade the financials here, not to be overlooked today. >> they shouldn't be overlooked. we talk about them being the backbone of these rallies and the financial sector, whether goldman sachs one day, yesterday, wells fargo had the upgrade yesterday and bank america and city are your players. they continue to explode to the upside. you look at the stock volume, you see a lot of volume in bank of america and options, same thing. the 12 strike calls continue to be attacked. now that we're through, we look to the upside and volume continues to be in the financials and banks. >> scott, i don't think it's coincidence we went from 1 to 2% in the 10 year, and i own these -- >> good for you. >> and they will make net
threatening situation. already, national weather service posted blizzard warnings from new york city to hartford, boston, up to portland, maine. this is going to be a big storm. it is starting off as two storms. one to the north, one to the south here. they're going to come together, one with the cold air, one with a lot of moisture and develop, really get cranking during the day, into the evening on friday, this is how it plays out. not quite together yet and then in the evening, things are really going to go downhill. heavy snow, this does include new york city, 95 to boston. the storm now as one overnight friday into saturday. and it's still going to be hanging in there saturday evening for parts of new england. when it's all said and done, so than two feet of snow. and it's possible new york city and long island, foot, maria, maybe a foot and a half. >> all right, chris. thank you so much. we have to gear up for that. appreciate that. my thoughts on a potential trouble spot for the markets. that's next in observation. stay with us. with fidelity's new options platform, we've comp
about. solar city i have to do work on. you know, it was my birthday recently. my kids said happy birthday, you ought to get a solar panel. it's like solar circuit, like circuit -- i don't want to do that, but hoar about party city? that's not there, either. but i will tell you that i think the solar city is on to something. if you can get money to put a solar panel on and cut my electric bill, you would be plenty happy. >>> matt in texas, matt? >> hi, jim. boo-yah from austin. >> man, austin, we had such a great time when we were in austin, at u.t. it was fantastic. what's up? >> caller: hey, i'm a longtime -- despite, due to -- medicare is a small book of business, which is down over 6%. do you think you have strategy, and in particular international expansion are enough to offset -- >> no, no, these stocks open down and down big. you get this medicare advantage, and they're get to cut it by that much, the stocks will be for sale. there's so many others, take the money out, buy -- you know, that's what's going to happen. anyway, some might be tempted to fight the tape. i know my
a successful american business and wiped out thousands of jobs. >> i was educated here, wilmington city schools, and then at wilmington college. >> and now you're the mayor. >> and now i'm the mayor. there were 576 hourly employees. >> for months, mayor david raizk has been getting layoff notices. by federal law, companies have to notify local government when layoffs are coming, and raizk is getting a new letter from dhl every week or so adding a few hundred at a time to the growing list of lost jobs. >> it's got classifications and numbers on it, but there's not names and addresses and who their wife or their family or their children are, and so you look at these, and at the end of the day, you think, "that's 800 and some people, folks, live here, work here, you know?" >> the mayor told us one out of three households has a family member working at the air park. you are what people around here call an air park family. >> absolutely. >> angela and john peka are raising four children on two air park salaries. angela started at airborne express when she was 19. now as a supervisor, she walks laid-
york city's times skwaer, i'm melissa lee. crash course. the original dr. doom says beware of 1987 all over again. he explains why. buyer's market. why the time may be running out for a good deal on your dream house. real estate mogul barbara cork ran is here for us. and oscar buzz. what is the golden statue worth for movie studio profits? michael burns of lionsgate gives you a preview. b.k., start with you. >> for me, it's gold. it bounced off 1550. this is a market i have not traded well over the last couple of weeks but we have a tradeable bottom here. you can use, let's call it 150 on the gld as your stop point, if i'm wrong tab this one. and i think even though the fed supposedly as of the minutes yesterday may be slowing down their purchases, the rest of the world isn't, so, you can still buy gld and it will -- >> you don't get spooked by that, you're like -- >> i don't get spooked by any crosses. none whatsoever. >> the big one? no? >> and the call activity backed this up, right? >> yeah. and b.k. is no vampire. that's why -- >> i do like garlic. >> but yes, we started seeing ye
private partnership in the cayman islands. he happened to invest in partnerships when he was at citi, and they happened to be based there. >> in romney's case he set them up down there? >> no, he didn't. i was not making -- i never made the cayman islands argument to you ever. >> oh! about romney? >> i never did. go back and check the tapes. never. >> i don't think he ever did. >> i think -- >> i don't think he did. >> in general, just the whole perception. now al gore's got more money, a lot more money than romney, as you know. you think that's in the cayman islands? >> he's not filthy rich. no, that's somewhere safe, the lea -- the middle east. >> as the ocean washes across the country, it's safe, probably in gold. >>> in the markets, the futures are fight slightly higher. yesterday the dow was up by 47 point. the s&p up by two. as patty dawn points out, the nasdaq has been the big issue. it was actually down yesterday by five points. it has not closed above the 3,200 level that so many had been watching closely. some say in order to see the s&p 500 and the dow break out to new hig
with their foams and cameras that showed the bags in question, the tent city in question. people who had a room with an actual window were much happier. we interviewed some of those folks last night. it wasn't as hot or smelly in their room. they were probably on an upper deck, so depending on where you were on the boat, as always. 100 buses were waiting last night to either new orleans or to galveston, which is where the boat originally disembarked from. there's going be about a dozen charter flights today by delta to get everybody home. back to you guys. >> all right, mcc, thank you. we want to hear from you, if not on a cruise ship, where would you rather be stuck? what would a better place to be rather than on a cruise ship? >> how about right here at work? >> right here at work? >> filling in for andrew ross sorkin. >> filling in for andrew ross sorkin. it smells fine in here right now. you showered this morning? i did, too. it's friday. so i did, as well. it's underwear change day, shower day, everything else. >> once a week you shower? >> is that tmi? no, no. when we were out in pebble,
are now powering some of america's biggest cities. siemens. answers. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with, it's easy to search hundreds of cards and apply online. reminds me of our network before cdw virtualized it. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client golf. aim for the lake. really? >>> a penny for your thoughts on this one. president obama gave his two cents on the fate of the penny saying he's open-open to the idea of getting rid of the copper coin. the president says it costs more for the government to make a penny than it's actually worth. the mint says it costs nearly it.5 cents to produce and distribute a single penny. tell us what you think on that one. >>> meantime, let's take a very quick look at what's happening with the markets. the dow is down by 0.3%
, new york city comptroller john lear. >> how things are doing midday when the minutes of the fed's recent meeting eyeing the punch bowl. that spooked the market. the selling is intensifying when commod dids have been down sharply. dow down 76 the low of the special. down to 13,959. the nasdaq down over a percent, about 35 points at 3178. that was a 12-year high yesterday. and the s&p is back below 1525, a number a lot of traders keeping an eye on. down 14 points at 1516. will we see long-await all-time highs later this week? he asks. where did that come from. today's closing bell exchange, my old friend, kenny, and bob pisani joining us as well. frank, you're a big technical analyst and watched the charts and worried about market going higher as a lot of people. is this the beginning of a sell-off here, do you think? >> bell, actually i think your question is extremely well-timed. if you look at the s&p over the last few months, we've traced out a large rising wedge formation which is a five-wave structure, and that's a bearish distribution pattern. now over last few days, we've
large cities were lined with gaming establishments called bucket shops, where people could place wagers on whether the price of stocks would go up or down without actually buying them. this unfettered speculation contributed to the panic and stock market crash of 1907, and state laws all over the country were enacted to ban them. >> big headlines, huge type. this is the front page of the new york times. >> "no bucket shops for new law to hit." >> so they'd already closed up, 'cause the law was coming. here's a picture of one of them. and they were like parlors. see? >> betting parlors. >> betting parlors, yeah. >> it was a felony. well, it was a felony when a law came into effect, because it had brought down the market in 1907. and they said, "we're not gonna let this happen again." and then 100 years later in 2000, we rolled them all back. >> a bill to reauthorize and amend the commodity exchange act to promote... >> the vehicle for doing this was an obscure but critical piece of federal legislation called the commodity futures modernization act of 2000. and the bill was a big favorite
right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. magic kingdom. disney's been the happiest place on earth for investors. why mickey mouse is still a good bet. tech troubles. it's the worst sector so far this year. tom picks that benefit from the mobile revolution. and blackberry brawl. can the momentum continue for blackberry? dan and guy duke it out in a smartphone street fight. first, let's get straight to breaking news here. shares of hewlett-packard surging on reports that the board is studying potential breakup scenarios. jon fortt has the latest. fact or fiction here? >> melissa -- fact, but not extremely exciting fact. the business new side courts reporting this. not a lot new i see in this report, saying that the board is exploring a breakup of some divisions, among other scenarios to maximize shareholder value. doesn't seem they've ever stopped analyzing these scenarios. but the spin off of the pc business is something that meg whitman keeps ruling out. earnings call after earnings call. nothing clear anything about that has chan
. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. here are tonight's top three trades. more money, more problems? why a drastic pay back may be the shareholder's best bet. energy independence. and, when it comes to oil, the focus is on north america, not the middle east. and gold breakdown. dennis gartman on why gold continues to lose its luster. but first, got to get to our top trade here, because the s&p 500 is hovers at 1500 yet again, our traders have found ways to play this rally. guy? >> hi, mel. >> valentine's week, just so you know. waiting for my gift. you laugh. valuation is crazy, 21 times forward earnings. you go back to the last quarter, operating margins, much better than expected. i know valuations are stretched. wig short interest here. still goes higher. >> is that connected to valentine's day week? >> no. nothing to do with it. >> not taking your wife to dunkin' donuts? >> just making sure mel knows, i'm waiting for my gift on thursday and that's putting it out there. >> wow. >> keep on a-waiting. pete? >> medical equipment. look at
, everybody. see you tasame time tomorrow. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. here is what "fast" is following tonight. taking a toll. the luxury home builder dropping today on earnings. is the stock priced for perfection? the ceo joins us. fool's gold? a dreaded death cross. but tim seymour isn't leaving the miners for dead. and office office. is the merger of office max and office depot good or bad for staples? dan and karen face off in the supply closet. first, let's get straight to today's action. the s&p and the nasdaq having their worst day of the year. the dow having its worst day in two weeks. so, the question tonight is, is this the beginning of a bigger correction? how worried are you that the fed is about to take away the punch bowl of easy money here? dan nathan, what do you say? >> well, of course it is the beginning. at the end of the day, i think there weren't too many surprises in the fed minutes, but the ones that took the market down were already baked into the cake in some wakes. to me, you mentioned toll brothers, th
city. long time fan. >> i appreciate it. >> caller: h u.n. >> buy, buy, buy. >> go to john in florida. >> caller: jim, i would like your latest take on arena pharmaceutical. >> at jim cramer on twitter, because i didn't fall in love with this sto, a lot of people despise me. i know people are in love with it. i am not in love with it. carl in arkansas. >> caller: greetings from arkansas. i am thinking of picking up a bank stock, your thoughts of new york community bank. >> it is so much higher than all the others, i will send you to keen. i don't know, it is a nice gain. i prefer key. i like the safety. that, ladies and gentlemen, is the conclusion of the lightning round! >>> coming up, allergra catapulted in 2013. botox smoothed out wrinkles for their results. are shares heading high sner cramer talks to the ceo, just ahead. [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade
at the nasdaq in new york city's times square, i'm melissa lee. these are the traders. stocks break their losing streak. the dow closing with over 100-point gain breaking its two-day losing streak. is this healthy price action or is there something amiss in the markets? it was a tough week for home builders, retailers and autos. they are surfacing about the strength of the consumer. >> we saw disappointing results out of home beuilders, like tol brothers. the automakers had a tough week. the fed has been doing what they have been doing. we got the minutes from the last meeting. a little more dissent than some people had expected. at some point, they are going to take their pedal off the metal. we are facing sequester, $4 gas at the pump, payroll tax increase. some guys told us this is hurting their sales. at some point, something has to give. i'm not sure at five-year highs if we can continue to go up. >> the home builders were due for a sharp pullback. they had gotten so far ahead of themselves, trading at valuations that go back to the last real estate bubble even though we are try tog create
market in the heart of a snowy times square in new york city. the traders and the weather outside is indeed frightful. trust me. but the returns from the stock market are down right delightful. the dow flirting with the 14,000 level preside level. and the nasdaq new 12-year highs. so the question, is it too late to get in? let's find out. mike, it's interesting the s&p right now is almost close to the targets of a lot of strategists on wall street. we're almost there. >> you wonder whether you should get worried when the analysts are having a hard time keeping up the market. i understand why people would be bulls. talk about the divergence between corporate earnings and the foot is firmly on the gas pedal. and they say people are underinvested. i don't buy any of those. if the fed has their foot on the gas pedal, they could take it off. as far as everybody being underinvested, goldman sachs put a a ropt indicating they have 40 to 45% of their assets in equities already. when i look at the dow chart, ten-year chart, looks to me like it could be forming a double top. look at the s&p
. the cold is what's moving in here. dangerous windchills, 15 the below sfee row in the twin citys, 1 is in chicago and 13 in indianapolis. lots of layers for all the kids who are going back to school today. then we catch our next storm, this little pin wheel around the oregon coast. this will dive down around california today and is be a pretty big snowmaker. coast to coast, 6 to 12 inches in the snowfall mountains. plenty of snow here around the wasatch. these amounts in the appalachians, on the order of 1 to 3 inches today 37 back to you guys. >> beck can he can't believe what she just heard about that cold weather. eric, they're melg me, you didn't know it was 25 degrees. >> it's warmed up in minneapolis since earlier today. >> such balmy weather. >> it's like, i've known this, right? >> we're here to educate. >> eric, i rely on the weather channel. tell us something, andrew -- >> he did. he just told me it's 2:22 in nairobi. >> you need singapore time? >> you know what else? the clock when you put them all in, andrew, am i right? if it's nice, the clocks are dark. if it's daytime
put. >>> back over here, citi's chairman is not seeking a break-up of the bank. a story in today's wall street journal says michael o'neill was among those encouraging investors not to break up the bank. he is backing abroad cost cutting plans, but exploring a break-up is no longer said to be among his top priorities. >>> and top equity firm sports ing represents tennis players and lots of people including super model giselle bundchen. back in the day owned roger federer. the decision to sell has been driven by the trustee who own tess state of the former ceo and chairman. peemp say it could fetch mother than $2 billion, but there's a huge fight going on among the banks out there to represent this yield and so many of them thought they had the end because they had been with teddy for so long. they were friends with teddy, the trustee who runs this process. only knew teddy for the last two years of his life. so there are banks and bankers who said i've been blanking with him for 20 years. he was my best friend. i promised i would get the deal. but everybody is there and now there'
of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> happy valentine's day. americans will spend $18.6 billion to express their love. men tend to spend more, $176, while females spend on average $89. wow. big business. joining us know is the owner of rennie and reed forest. reed and angus, hello and welcome to you both. happy valentine's day, i should say. reed, how big a day is it for you and what are some of the more unusual requests you tend to get? >> it's a big day. whether it's the weather or whether it's clientele, we had an order yesterday for a 1,000 rose arrangement, which we'll be sending out first thing this morning. this is an individual we see a couple times throughout the last three years and it keeps us on our toes. >> i see you have the low ask lush. i thought that was something that happens at the end of valentine's day. apparently it's a mixed floral. it's popular. are guys any good at this, reed? how much are they spending on average this year compared to five years ago? >> guys are good at it because their hear
in a position -- it's been a pretty awful episode for the city of london, a lot of big advisers, jpmorgan, credit suisse, some of the lawyers, price waterhouse coopers, a lot of people who are on the board of bumi, all of them have tarnished reputations as a result of this scandal. >> whose fault is that? >> that's a good question. and there's still a bitter takeover by the panel going on as to exactly who knew what when the fundamental issues about funds that have gone missing from the company before it was brought to the london market. >> and nat rothschild has a lot of complaints about that money. the question is whether he knew about it before he brought this company to the london market, anyway. >> he calls the current management team a disaster. the company is uninvestble. we have to get out the cancer, he says. >> bumi has made a lot of commitments as to what they will do if this vote is won. they certainly sent a message that the current chairman will step down, the backrie family have offered to buy out half the company in return for their own shares in bumi. so in theory, at lea
of america's biggest cities. siemens. answers. >>> italy's mario montanaty is calling on the candidates to appear in a televised debate as he's struggling to gain ground in his first ever campaign. jules is in milan. anybody nibbling at his debate idea, jules? >> well, what we've seen is that he's in fourth place behind berlusconi, behind the comedian becky grillo and wind the man that's most likely to win right now, mr. bersani of the democratic party. but i think the important thing to point out here is there's still a third of voters out there that haven't made a decision, in part because of the scandals we've had in the last few months making it difficult for people to decide. for mario monti's point of view, it can't hurt. berlusconi came out immediately and said he's not willing to face mario monti. he doesn't want questions on his economic policy. but one of the things that gets banded around here is if he's more interesting in addressing his legal issues. you know, my accepts from that is that actually, despite what's going on in the markets, the relative calm appearance right n
it to continue. jim and anthony in new york city. what's fueling this rally? give us perspective. >> platinum is a good indicator how the industrial markets are doing. 66% of all platinum mind is used in industry. auto number one, jewelry, number two and turbine engines for airplanes. it is showing you there is strength in the auto industry and airplane and jewelry business. a good indicator and usually in a good economy, platinum will o out-perform gold. >> why are traders watching it. >>> what does it tell them? >> first, i only agree with half of what he just said. the platinum scenario is important for the stocks to do well, pretty decent global growth but nothing to write home about. platinum does a little bit better when the china story looks like it could pop with momentum. an excellent indicator from the stock market but not just the growth side of it. >> if you had to pick one metal for 2013, flat numb, gold or silver? >> i'm looking at platinum. it is $5 from its all time high and gold closer to that. i think it can make that move quicker and usually out-performs gold. >>> what abou
on valuation, he joins us now from new york city. >> we have been watching apple sell all the way down from $705 to where it stands today. what's it worth for real? people want to know who are watching this show, whether they should get in, if they have it now, what should they do. >> i think it's worth a lot more than $450. at the same time, i was listening to your discussion and i think it's good news that the traders are leaving and the momentum is gone because i left apple eight months ago and i was on cnbc when i said i wasn't going to be an apple investor because there were too many crazy people around, essentially investing in the stock for the wrong reasons. if they wash out the markets of all those investors who had no idea what happened but are trading on it purely based on momentum. the value i got and it's on my website, is about $600 per share. when investors react to the earnings report. it was not a great earnings report. growth had leveled off, but if only apple were priced on the expectation of high growth. you don't need any growth to justify a $4 billion market cap. at a
the better, they like citi, they like bank of america. that's a pretty significant line in the stand. i don't know a lot of people that are long on the stock that are looking to part with it just yet. it really seems to be strong, even on down days. >> interesting you say that because, weis, you're one of those. you're long and you have no plans to bail. >> i don't. i'm till positive on the economy. net interest margins will increase and you'll make more money. i think you're seeing a turn in m&a also. >> until that dynamic change, i'm not sure why anyone would want to walk away. >> best buy is getting a boost today, also getting an upgrade. stocks having a nice move. >> the stock was left for dead last year. fourth quarter sales were a little better than people expected, that showed some stabilization, which was positive. and steefle also making a call on management doing a much better job. the risk is the same it's been. google is getting into retail, apple has eaten their lrcunch. i would take profits and gets out of this. i don't see growth going forward. >> and dell will report earning
is great company. i don't own it at the moment. i really like citi and bank of america. i like the investment banks and the small investment banks as well >> you think we'll get some dividends, anton? >> i think everybody is increasing already. already got amountment out of comerica and bbmt so we'll continue to get dividend increase. >> jamie dimon said that's the plan, we'll raise the diffidents so he shuttinged the buyback might be smaller than a year ago. fred, break it down for us. what do you like in terms of the bank stocks, and what do you want to avoid here? >> the ones from the beginning of the story, never will they get back to the pre-peaks. the reason why we won't get to the pre-peaks is the big issuance during the crisis. what do we have the best outlook for and that's restructuring. going forward that's citigroup. our number one pick in that space. looking away, this interest rates environment is tough on earnings. at anton say, looking for capital higher rates. we'll bev it there. thanks for having you on the prom. bank stocks long a lowered for this market. see
in spain and a little bit more noise, but if we look at city surprise index in terms of european surprises, it's off the charts. it's printed to 70, so all in all we think that the global markets are healing and china is getting better and europe is getting better and greece is off the table and draghi will speak this week. >> right. >> things continue to be positive. >> mike -- >> i'm not sure china is getting better. >> you don't think china is getting better. >> just look at yum earnings. >> according to bmi china is getting better. >> expectations are too high. just for what it's worth in china. >> all right. let's -- >> how about europe? mike, does europe become front page news again? where are these markets? a couple of cat lifts on the horizon, italian elections and debt coming due for spain? >> what we saw yesterday is that the threshold is pretty low for people to start getting nervous again about europe because we don't have the depth of confidence that the european central bank is really all in and means the same thing that it means over here with the fed, so i do think there's
, the megabanks, especially city and b of a have not performed well, even going back before the crisis, trading at significant discounts to tangible book value. so where the government could play a positive role is getting more information out to investors so they can decide maybe the economically best solution for this is a market-driven breakup, but right now it's very difficult again the inadequate disclosures to see how profitable each business line is because the mega banks don't allocate their capital expenses according to their business line. so i think the government has probably not looked at that as much as they should, and we need to get market information out. i think the market can provide a much faster solution than government, but you're right. they are still continuing interest in congress on some type of size limit or breakup proposal. >> i guess, isn't it difficult to see a different, you know, setup in europe than the u.s.? i mean, do we need a global standard? >> yeah. >> is it even logical to think that we have one standard across the world? >> well, i think that would be y
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stroll in sunny, warm san diego, america's finest city. >> the dats. i like the dats. go ahead. >> caller: i'm a financial adviser and long-time viewer who pleasure what you do to educate and motivate investors. >> thank you. >> caller: i was wondering if you would share what your objective criteria are for investors to use in determining best of breed. thank you. >> i've got to tell you, best of breed, i always start with record dividends. then i go to how a company's done consistently in good and bad times. and yes, for best of breed, i actually look at the product itself. is the product something i'd want to use? is it a bank i'd want to go to? is it, to use the danny meyer phrase, the great restaurateur, is it the one that is most hospitable to shareholders? anyway, new diversification, it's important. it's what we're preaching tonight. make sure your portfolio is home a high yielder. okay? you need a growth stock. you need a special -- you know what? a spec and then you need geographically safe area for one of them. i'll each you all about how to pick the best ones. i want you to be
. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. [ male announcer ] to hold a patent that has changed the modern world... would define you as an innovator. to hold more than one patent of this caliber... would define you as a true leader. ♪ to hold over 80,000... well that would make you... the creators of the 2013 mercedes-benz e-class... quite possibly the most advanced luxury sedan ever. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. >>> welcome back. mary thompson is stepping in now with some breaking news on that fight between greenlight capital and apple. mary. >> reporter: that's right. it's a victory for david einhorn's greenlight capital. judge richard sullivan ruling in favor of greenlight capital. einhorn had sought to block shareholders from voting on proposal two of apple's proxy. the judge basically granting that injunction, and had a this means is that apple is blocked from allowing share holders to vote on whether or not the firm should issue pref
cities. answers. >>> if the housing market is coming back, then you know that i think that the housing theme cannot be denied. despite the doubts that cropped up mid-week about this sector. and if the banks are making more loans, and you know i think that can't be denied, specifically residential mortgage loans, another one of my favorite themes for 2013, which i did not abandon during the week, then how about we talk about a crazy idea for speculation friday? how crazy? you know what? i think this housing rebound is so robust that it's time to consider buying a mortgage insurer. albeit only for speculation. this is speculation friday. and the one i've got my eye on is -- radian group. rdn for all you home gamers. the stock i told you years ago you had to get out no matter what. the mortgage insurance companies, as you might expect from the name, write insurance policies on mortgages that compensate lenders or investors if the borrowers default on the loan. so let's say you take out a loan to buy a house and put down 15%. the bank is required to go to the federal housing administration
in the marketplace. add it that explosion at head quarters in mexico city, that's another factor that traders are launching. we haven't seen significant gains in the u.s. oil price because we have pipeline concerns that pipeline taking crews from oklahoma to texas coast. that probably won't be a full capacity until the fourth quarter. that is something that leaves still that glut of oil in the middle part of the country that is something that kept a lid on the rise in the u.s. oil price. in terms of precious metals, it has been a strong day for precious metals after the jobs data and that unploemt rate is what traders are watching. one reason they think precious metals. >> so what has happened to the individual investor over that time? jane wells is in los angeles. jane? >> hi, tyler. you think of americans as being resilient and optimistic. we found more than a few who said they survived the last few years by thinking of warren buffett. the view from main street when we come back. [ male announcer ] with citibank it's easy for jay to deposit checks from anywhere. [ wind howling ] easier than
small trading companies around the world, some based in cities right here in the united states. >> are you a procurement agent for iran? >> [chortles] no, that's ridiculous. no. >> but of course that's sort of the implication of the case against you. >> i'm nothing to do with iranian government or things like that at all. >> mohammad vaghari, mitch to his friends, an iranian who's lived in the united states for 15 years, is facing up to 85 years in prison. he and his lawyers are preparing for his trial on charges that he conspired to send u.s. technology to iran through a trading company he set up in his basement apartment in philadelphia. you are charged with trying to buy a centrifuge that could be used to make biological weapons, like anthrax. >> i don't know about that. i'm not a biological expert to tell, you know-- >> that's in the affidavit and is part of... >> sure. >> the charges against you? >> yes. that's what they say. >> he says his client for the centrifuge was a science lab at a university in dubai. but he says he never bought it. he only asked for its price. >>
from the nasdaq market site in new york city's times square, i'm melissa lee. debbie downer. we are so close to a record for stocks. why the bears are starting to growl. yelp reviews. the ceo joins us with his take on monetizing mobile and how his company is competing with google and facebook. and rotten apple? the woman who called the demise of enron explains why the tech darling has further to fall. let eelgs go straight to the traders and ask what the top trade was today. guy. >> good to be here tonight! love the rhames for a long time and if you want to go downstream in rails, we talked about this name before, had a nice day today. look at trinity industries, trn. >> karen, your top trade? >> didn't do a ton, but f and p, a name we talk about from time to time continues its upward march. >> fifth and pacific, to be exact. >> the old liz claiborne. >> steve grasso? >> goldman sachs. poised to make a move to $173. tim? >> we continue to think the world markets are stretched. in that way, we think emerging markets have underperformed. we are long eem. we got short some mxwo, which is
" begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. deal mania. from office's office to dell's dell, how you can belt on the smart money. best buy. the stock is on fire this year, but should you put your money where richard schultz's mouth is? a good old fashioned street fight. and apple versus goodell. the country's top analyst weighs in. while colin gillis is looking beyond the two for his top pick. first, let's go to the markets. the dow and s&p 500 hitting fresh five-year highs. and it looks like the stocks are breaking out. if you are a believer what is your top breakout trade at this point? josh? >> well, we broke out in mid-january in the wilshire 5,000. we have heavy participation from small and mid caps. the area that i still think has the most room right now is energy. specifically exploration and protection. they have not kept pace over the last couple of years with the rest of this market, so, if you want to own the basket, the ticker is ieo. specific names, look at apache, every one of these charts looks incredible and va
cities. siemens. answers. >>> power lunch top of the hour. what the fear index, the vix, is telling the smart money. should you run, not walk, from this stock market? remember enron? are american 401(k) investors making the same now by investing too much money in their company's stock for their own good and their own retirement? and what ceos are making these days. >> let's take a look at the vix rising as stocks sit near the low of the day. what are you making, doc, of the move we're seeing over the last couple of days. you have the fear gauge rising significantly today. >> it's an indication, scott, that not enough people have protection going into sequestration next week. yesterday just ahead of the fed minutes where they talked about perhaps slowing the pace of those asset purchases and, again, that was not a unanimous opinion, that was just part of that statement yesterday, you saw 40,000 of the at the money 15 puts trade very quickly, went from 95 cents to $1.40 yesterday, moving up to $1.70 or $1.80. a guy bought 40,000 of them. could have been stephanie sitting here who did
thought he was impeccable -- i mean. >> he was at citi for awhile. >> he was at sit ty for like two years or something. we're not talking about a lot of time. >> some of these things were when he was at the university and the questions are about what they paid him and it hasn't been -- >> there are different standards applied -- >> again you are shocked that in washington people take sides that they're on? >> it doesn't seem to bother anyone in the media, though, except for "the wall street journal." i don't see "the washington post" carping. i don't see your paper carping. >> i've read a lot of it. >> not "the new york times." >> "the washington post" has done some -- >> they have a great -- what's her name? she's great down there, rubin? i mean she's -- she stands out. >> but he's -- look, he's -- he was a career technocrat for the most part. >> i know. >> and with the exception -- >> these are your selling points for why he'd be a great -- >> look i'm not going to make you that argument. i'm going to make you the argument that the stuff at happened at citigroup is like a rare intermiss
expected. what's it mean? joining us is metals and mining analyst at citi. john, how important are these earnings for barrick gold? >> they are important because the problems of 2012 are continuing into 2013. the company's difficulties with the available of power in tanzania and they're about to use diesel power in one of their mines which pushed costs up to $1,000 an ounce. during a strike in 2012, part of the equipment froze up and jammed up. it will take a few months in 2013 to fix up. so the company has guided down significantly for 2013 compared to what analysts were expecting. >> is that a play where you look then at rivals and see them benefiting, or is it pretty much a warning sign for everyone operating in this space? >> no. i think most of this is very company specific. barrick operates at guidance, cost of above $1,000 an ounce for 2013. most of the u.k. gold is at $750, $800 an ounce. and barrick cost shot up sharply in the past few years. again, company and country specific because of the issues they've faced with the power. they've also faced social issues around
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